Baron Money, an asset management firm, published its “Baron World wide Edge Fund” very first quarter 2022 trader letter – a copy of which can be downloaded in this article. Baron Global Edge Fund (the “Fund”) declined 22.8% (Institutional Shares), throughout the first quarter, compared to the 5.4% decline for the MSCI ACWI Index (the “Index”), and the 9.7% reduction for the MSCI ACWI Advancement Index, the Fund’s benchmarks. Test to invest some time having a search at the fund’s leading 5 holdings to be informed about their most effective picks for 2022.
In its Q1 2022 trader letter, Baron Global Benefit Fund pointed out Rivian Automotive, Inc. (NASDAQ:RIVN) and stated its insights for the company. Started in 2009, Rivian Automotive, Inc. (NASDAQ:RIVN) is an Irvine, California-primarily based electrical car or truck automaker and automotive know-how corporation with a $28. billion marketplace capitalization. Rivian Automotive, Inc. (NASDAQ:RIVN) delivered a -24.77% for the earlier thirty day period and it shut at $31.74 for each share on May well 02, 2022.
Here is what Baron World wide Edge Fund has to say about Rivian Automotive, Inc. (NASDAQ:RIVN) in its Q1 2022 investor letter:
“Rivian Automotive, Inc. styles, manufactures, and sells buyer and industrial electric automobiles. Shares of Rivian ongoing its volatile trading subsequent the stock’s IPO in late 2021, declining 52% in the to start with quarter as traders rotated out of rapid-escalating extended-duration stocks and as industrywide provide-chain problems delayed Rivian’s manufacturing ramp. In addition, even even though other automotive firms lifted costs owing to inflationary pressures, Rivian introduced a price tag increase marketing campaign that was not properly communicated and, as a final result, was fulfilled with dissatisfaction by existing reservation holders. Whilst this was an unforced mistake, the corporation promptly corrected course, reversing its selection to raise costs for existing reservations, although protecting the enhance on new customers (which has not caused a content effect to demand). We retain conviction in the shares offered management’s vision, Rivian’s product positioning, the company’s relationship with Amazon.com, and the company’s solid stability sheet, which will aid it triumph over the recent worries although using edge of the extensive-time period chance as the marketplace transitions to electric powered vehicles.”
Our calculations present that Rivian Automotive, Inc. (NASDAQ:RIVN) fell quick and didn’t make it on our record of the 30 Most Common Shares Amongst Hedge Cash. Rivian Automotive, Inc. (NASDAQ:RIVN) was in 47 hedge fund portfolios at the end of the fourth quarter of 2021, in contrast to cash in the preceding quarter. Rivian Automotive, Inc. (NASDAQ:RIVN) sent a -54.41% return in the earlier 3 months.
In April 2022, we also shared an additional hedge fund’s views on Rivian Automotive, Inc. (NASDAQ:RIVN) in another write-up. You can locate other investor letters from hedge resources and popular investors on our hedge fund investor letters 2022 Q1 website page.
Disclosure: None. This write-up is initially revealed at Insider Monkey.